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Defined Pension Plans
9 Months Ended
Sep. 30, 2011
Compensation and Retirement Disclosure [Abstract] 
Pension and Other Postretirement Benefits Disclosure [Text Block]
Note 10 – Defined Pension Plans
 
The Company has a noncontributory defined benefit pension plan, which covers most of its employees. The Company accrues and makes contributions designed to fund normal service costs on a current basis using the projected unit credit with service proration method to amortize prior service costs arising from improvements in pension benefits and qualifying service prior to the establishment of the plan over a period of approximately 30 years. Disclosure information is based on a measurement date of December 31 of the corresponding year.
 
The following table represents the components of the net periodic pension costs:
 
    Estimated   Actual
(In thousands)   2011   2010
Service cost – benefits earned during the year       $     2,073         $     1,771  
Interest cost on projected benefit obligation     2,422       2,290  
Expected return on plan assets     (3,314 )     (2,440 )
Net amortization     604       616  
Net periodic pension cost   $ 1,785     $ 2,237  

Pension costs recorded to expense related to the noncontributory defined benefit pension plan were $415,000 and $594,000 for the three-month periods ended September 30, 2011 and 2010, respectively, and totaled $1,347,000 and $1,678,000 for the nine-month periods ended September 30, 2011 and 2010, respectively. The Company made a contribution of $450,000 to the plan during the three-month period ended September 30, 2011, for a total of $1,350,000 for the nine-month period ended September 30, 2011 and expects to contribute at least an additional $450,000 in 2011.
 
In addition to the above funded benefit plan, the Company has an unfunded supplemental executive retirement plan which covers key executives of the Company. This is a noncontributory plan in which the Company and its subsidiaries make accruals designed to fund normal service costs on a current basis using the same method and criteria as its defined benefit plan.

The following table represents the components of the net periodic pension costs for 2010 and an estimate for 2011:
 
    Estimated   Actual
(In thousands)   2011   2010
Service cost – benefits earned during the year       $     90       $     78
Interest cost on projected benefit obligation     295     315
Net amortization     249     258
Net periodic pension cost   $ 634   $ 651

Pension costs recorded to expense related to the unfunded supplemental executive retirement plan were $159,000 and $158,000 for the three-month periods ended September 30, 2011 and 2010, respectively, and were $476,000 and $488,000 for the nine-month periods ended September 30, 2011 and 2010, respectively.